# KGL: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146050 Publisher: asx Original announcement: 2026-09-30T01:27:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T02:11:26.831Z Atlas analysis updated: 2026-09-30T02:11:26.831Z - Company: KGL Resources Limited - Ticker: KGL - Exchange: ASX - Region: Northern Territory - Primary commodity: Copper - Secondary commodities: Silver, Gold - Document categories: Resource update, Capital raise, Other - Extracted: 2026-09-30 02:11:27 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary KGL Resources Limited's FY2026 Annual Report highlights a transformational year for the Jervois Copper-Silver-Gold Project, securing approximately A$689 million in aggregate funding, including a US$300 million PMPA and a A$300 million equity raising. The updated Baseline Economic Model confirms strong project economics with a post-tax NPV of A$839 million and an IRR of 31%, targeting first copper concentrate production in H1 CY2028. The report also details historical resource and reserve estimates and outlines a funded exploration program for future growth. Reasoning: KGL Resources has achieved full funding for its Jervois Copper-Silver-Gold Project, backed by a robust economic model and a clear path to production, despite the resource and reserve figures being historical and the project facing inherent development risks. - Positive factor: Project fully funded to production with A$689 million aggregate funding - Positive factor: Updated Baseline Economic Model confirms strong economics \(NPV A$839m, IRR 31%\) - Positive factor: Significant equity raising and PMPA secured - Positive factor: Targeting first copper concentrate production in H1 CY2028 - Positive factor: Funded exploration program to extend mine life and resource growth - Negative factor: Resource and reserve estimates are historical restatements from 2024 and 2025 - Negative factor: Potential risks identified including metallurgy, construction, and FID delay Facts used in scoring: 60 ## Classification and evidence **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Jervois Mineral Resources Estimates and Ore Reserves Estimate were prepared in accordance with JORC 2012. Evidence · text > prepared in accordance with JORC 2012 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The Competent Person's statement confirms that the estimates were prepared in accordance with JORC 2012, implying QP/CP sign-off. Evidence · text > Competent person’s statement **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: All resource and reserve estimates refer to original market announcements from 2024 and 2025, making them historical restatements in this FY2026 annual report. Evidence · text > The information in this report that relates to the Jervois Mineral Resources Estimates was first released to the market on 25 November 2024 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The effective dates for the resource \(25 November 2024\) and reserve \(10 February 2025\) estimates are more than two years old relative to the FY2026 annual report publication date \(30 September 2026\). Evidence · text > The information in this report that relates to the Jervois Mineral Resources Estimates was first released to the market on 25 November 2024 **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The resource table includes Measured category resources for Reward and Bellbird Open Cut Potential. Evidence · table > Measured Context: Reward **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The resource table includes Indicated category resources for Reward Open Cut, Bellbird Open Cut, Reward Underground, Bellbird Underground, and Rockface Underground. Evidence · table > Indicated Context: Reward **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource table includes Inferred category resources for Reward Open Cut, Bellbird Open Cut, Reward Underground, Bellbird Underground, and Rockface Underground. Evidence · table > Inferred Context: Reward **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: The reserve table includes Proven category reserves for Reward Open Pit and Bellbird Open Pit. Evidence · table > Proven Context: Reward Open Pit **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The reserve table includes Probable category reserves for Reward Open Pit, Bellbird Open Pit, Rockface Underground, Bellbird Underground, Reward Underground, and Marshall Underground. Evidence · table > Probable Context: Reward Open Pit ## Extracted facts Stored fact records: 60. Some facts used in scoring do not have a stored record. ## Resource Estimates (60) ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-0) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:efb08d00e6c6f3b2cd2f - Deposit or zone: Reward Open Pit #### Resource Data - Category: proven - Tonnes: 2680000 - Grade: 1.71 - Grade Unit: % - Contained Metal: 45.7 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade Proven copper reserve, indicating strong economic viability, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Proven Reserve category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.71 Context: 2.68 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-1) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:efb08d00e6c6f3b2cd2f - Deposit or zone: Reward Open Pit #### Resource Data - Category: proven - Tonnes: 2680000 - Grade: 0.39 - Grade Unit: g/t - Contained Metal: 33.6 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Proven Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Proven Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.39 Context: 2.68 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-2) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:efb08d00e6c6f3b2cd2f - Deposit or zone: Reward Open Pit #### Resource Data - Category: proven - Tonnes: 2680000 - Grade: 41.96 - Grade Unit: g/t - Contained Metal: 3.6 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good silver grade in the Proven Reserve category, but it is a restatement of a prior estimate. - Positive factor: Good silver grade in Proven Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 41.96 Context: 2.68 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-3) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b005df9d5a781390bf1b - Deposit or zone: Reward Open Pit #### Resource Data - Category: probable - Tonnes: 2200000 - Grade: 1.19 - Grade Unit: % - Contained Metal: 26.1 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good copper grade in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Good copper grade in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.19 Context: 2.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-4) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b005df9d5a781390bf1b - Deposit or zone: Reward Open Pit #### Resource Data - Category: probable - Tonnes: 2200000 - Grade: 0.22 - Grade Unit: g/t - Contained Metal: 15.6 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.22 Context: 2.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-5) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b005df9d5a781390bf1b - Deposit or zone: Reward Open Pit #### Resource Data - Category: probable - Tonnes: 2200000 - Grade: 36.3 - Grade Unit: g/t - Contained Metal: 2.6 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 36.3 Context: 2.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-6) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d090b25fb0d67c981b97 - Deposit or zone: Bellbird Open Pit #### Resource Data - Category: proven - Tonnes: 1510000 - Grade: 1.94 - Grade Unit: % - Contained Metal: 29.2 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade Proven copper reserve, indicating strong economic viability, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Proven Reserve category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.94 Context: 1.51 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-7) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d090b25fb0d67c981b97 - Deposit or zone: Bellbird Open Pit #### Resource Data - Category: proven - Tonnes: 1510000 - Grade: 0.11 - Grade Unit: g/t - Contained Metal: 5.3 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Proven Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Proven Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.11 Context: 1.51 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-8) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d090b25fb0d67c981b97 - Deposit or zone: Bellbird Open Pit #### Resource Data - Category: proven - Tonnes: 1510000 - Grade: 11.59 - Grade Unit: g/t - Contained Metal: 0.6 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Proven Reserve category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Proven Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 11.59 Context: 1.51 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-9) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ba4ad3f05106f7c1ed08 - Deposit or zone: Bellbird Open Pit #### Resource Data - Category: probable - Tonnes: 480000 - Grade: 1.04 - Grade Unit: % - Contained Metal: 5 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good copper grade in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Good copper grade in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.04 Context: 0.48 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-10) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ba4ad3f05106f7c1ed08 - Deposit or zone: Bellbird Open Pit #### Resource Data - Category: probable - Tonnes: 480000 - Grade: 0.06 - Grade Unit: g/t - Contained Metal: 0.9 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.06 Context: 0.48 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-11) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ba4ad3f05106f7c1ed08 - Deposit or zone: Bellbird Open Pit #### Resource Data - Category: probable - Tonnes: 480000 - Grade: 5.55 - Grade Unit: g/t - Contained Metal: 0.1 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 5.55 Context: 0.48 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-12) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c92262247cb6b38043d0 - Deposit or zone: Rockface Underground #### Resource Data - Category: probable - Tonnes: 2960000 - Grade: 2.55 - Grade Unit: % - Contained Metal: 75.4 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade Probable copper reserve, indicating strong economic viability, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Probable Reserve category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 2.55 Context: 2.96 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-13) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c92262247cb6b38043d0 - Deposit or zone: Rockface Underground #### Resource Data - Category: probable - Tonnes: 2960000 - Grade: 0.18 - Grade Unit: g/t - Contained Metal: 17 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.18 Context: 2.96 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-14) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c92262247cb6b38043d0 - Deposit or zone: Rockface Underground #### Resource Data - Category: probable - Tonnes: 2960000 - Grade: 16.58 - Grade Unit: g/t - Contained Metal: 1.6 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 16.58 Context: 2.96 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-15) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5343814472c5fb98cb86 - Deposit or zone: Bellbird Underground #### Resource Data - Category: probable - Tonnes: 370000 - Grade: 1.65 - Grade Unit: % - Contained Metal: 6 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade Probable copper reserve, indicating strong economic viability, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.65 Context: 0.37 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-16) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5343814472c5fb98cb86 - Deposit or zone: Bellbird Underground #### Resource Data - Category: probable - Tonnes: 370000 - Grade: 0.08 - Grade Unit: g/t - Contained Metal: 1 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.08 Context: 0.37 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-17) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5343814472c5fb98cb86 - Deposit or zone: Bellbird Underground #### Resource Data - Category: probable - Tonnes: 370000 - Grade: 13.23 - Grade Unit: g/t - Contained Metal: 0.2 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 13.23 Context: 0.37 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-18) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ed26af57c121453e1360 - Deposit or zone: Reward Underground #### Resource Data - Category: probable - Tonnes: 2480000 - Grade: 1.88 - Grade Unit: % - Contained Metal: 46.7 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade Probable copper reserve, indicating strong economic viability, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Probable Reserve category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.88 Context: 2.48 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-19) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ed26af57c121453e1360 - Deposit or zone: Reward Underground #### Resource Data - Category: probable - Tonnes: 2480000 - Grade: 0.49 - Grade Unit: g/t - Contained Metal: 38.8 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.49 Context: 2.48 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-20) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ed26af57c121453e1360 - Deposit or zone: Reward Underground #### Resource Data - Category: probable - Tonnes: 2480000 - Grade: 25.77 - Grade Unit: g/t - Contained Metal: 2.1 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 25.77 Context: 2.48 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-21) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:6325e26bf8e067f51e57 - Deposit or zone: Marshall Underground #### Resource Data - Category: probable - Tonnes: 1710000 - Grade: 1.16 - Grade Unit: % - Contained Metal: 19.8 - Contained Unit: kt #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good copper grade in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Good copper grade in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.16 Context: 1.71 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-22) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:6325e26bf8e067f51e57 - Deposit or zone: Marshall Underground #### Resource Data - Category: probable - Tonnes: 1710000 - Grade: 0.19 - Grade Unit: g/t - Contained Metal: 10.2 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.19 Context: 1.71 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-23) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:6325e26bf8e067f51e57 - Deposit or zone: Marshall Underground #### Resource Data - Category: probable - Tonnes: 1710000 - Grade: 39.52 - Grade Unit: g/t - Contained Metal: 2.2 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-02-10 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-02-10T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Probable Reserve category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Probable Reserve category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 39.52 Context: 1.71 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-24) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:86fa56e753c997a4aace - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 2570000 - Grade: 1.95 - Grade Unit: % - Contained Metal: 50 - Contained Unit: kt - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade Measured copper resource, indicating strong confidence, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Measured category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.95 Context: 2.57 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-25) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:86fa56e753c997a4aace - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 2570000 - Grade: 4 - Grade Unit: moz - Contained Metal: 4 - Contained Unit: moz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good silver grade in the Measured category, but it is a restatement of a prior estimate. - Positive factor: Good silver grade in Measured category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 4.0 Context: 2.57 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-26) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:86fa56e753c997a4aace - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 2570000 - Grade: 0.43 - Grade Unit: g/t - Contained Metal: 35.4 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This represents a gold credit in the Measured category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Measured category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.43 Context: 2.57 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-27) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0f8a0cc23c9d6dfeaf58 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1020000 - Grade: 1.39 - Grade Unit: % - Contained Metal: 14.3 - Contained Unit: kt - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good copper grade in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Good copper grade in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.39 Context: 1.02 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-28) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0f8a0cc23c9d6dfeaf58 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1020000 - Grade: 1.2 - Grade Unit: moz - Contained Metal: 1.2 - Contained Unit: moz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.2 Context: 1.02 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-29) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0f8a0cc23c9d6dfeaf58 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1020000 - Grade: 0.23 - Grade Unit: g/t - Contained Metal: 7.6 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.23 Context: 1.02 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-30) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cba0b7e3a7ca18fbfd56 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 610000 - Grade: 0.95 - Grade Unit: % - Contained Metal: 5.8 - Contained Unit: kt - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a copper resource in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Copper resource in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.95 Context: 0.61 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-31) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cba0b7e3a7ca18fbfd56 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 610000 - Grade: 0.2 - Grade Unit: moz - Contained Metal: 0.2 - Contained Unit: moz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Silver credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.2 Context: 0.61 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-32) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cba0b7e3a7ca18fbfd56 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 610000 - Grade: 0.08 - Grade Unit: g/t - Contained Metal: 1.5 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Gold credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.08 Context: 0.61 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-33) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c1b97f0ee92480930dff - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1230000 - Grade: 2.53 - Grade Unit: % - Contained Metal: 31.2 - Contained Unit: kt - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade Measured copper resource, indicating strong confidence, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Measured category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 2.53 Context: 1.23 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-34) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c1b97f0ee92480930dff - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1230000 - Grade: 0.6 - Grade Unit: moz - Contained Metal: 0.6 - Contained Unit: moz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Measured category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Measured category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.6 Context: 1.23 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-35) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c1b97f0ee92480930dff - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1230000 - Grade: 0.14 - Grade Unit: g/t - Contained Metal: 5.6 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Measured category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Measured category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.14 Context: 1.23 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-36) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c2f20d56d9ea6136d426 - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1260000 - Grade: 1.45 - Grade Unit: % - Contained Metal: 18.2 - Contained Unit: kt - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good copper grade in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Good copper grade in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.45 Context: 1.26 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-37) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c2f20d56d9ea6136d426 - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1260000 - Grade: 0.4 - Grade Unit: moz - Contained Metal: 0.4 - Contained Unit: moz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.4 Context: 1.26 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-38) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c2f20d56d9ea6136d426 - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1260000 - Grade: 0.17 - Grade Unit: g/t - Contained Metal: 6.8 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.17 Context: 1.26 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-39) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:881c3b1bc99d8a57dbe7 - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1020000 - Grade: 1.24 - Grade Unit: % - Contained Metal: 12.7 - Contained Unit: kt - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a copper resource in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Copper resource in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.24 Context: 1.02 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-40) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:881c3b1bc99d8a57dbe7 - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1020000 - Grade: 0.3 - Grade Unit: moz - Contained Metal: 0.3 - Contained Unit: moz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Silver credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.3 Context: 1.02 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-41) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:881c3b1bc99d8a57dbe7 - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1020000 - Grade: 0.12 - Grade Unit: g/t - Contained Metal: 4 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Gold credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.12 Context: 1.02 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-42) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:36819456d18ce94d474f - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 6220000 - Grade: 1.87 - Grade Unit: % - Contained Metal: 116 - Contained Unit: kt - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a good copper grade in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Good copper grade in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.87 Context: 6.22 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-43) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:36819456d18ce94d474f - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 6220000 - Grade: 7.67 - Grade Unit: moz - Contained Metal: 7.67 - Contained Unit: moz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 7.67 Context: 6.22 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-44) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:36819456d18ce94d474f - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 6220000 - Grade: 0.38 - Grade Unit: g/t - Contained Metal: 75.5 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.38 Context: 6.22 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-45) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:de798033eda1bb70a076 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4710000 - Grade: 1.35 - Grade Unit: % - Contained Metal: 63.6 - Contained Unit: kt - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a copper resource in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Copper resource in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.35 Context: 4.71 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-46) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:de798033eda1bb70a076 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4710000 - Grade: 2.82 - Grade Unit: moz - Contained Metal: 2.82 - Contained Unit: moz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Silver credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 2.82 Context: 4.71 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-47) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:de798033eda1bb70a076 - Deposit or zone: Reward - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 4710000 - Grade: 0.17 - Grade Unit: g/t - Contained Metal: 25.5 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Gold credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.17 Context: 4.71 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-48) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0a8d262941024683ee9b - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 350000 - Grade: 2.26 - Grade Unit: % - Contained Metal: 8 - Contained Unit: kt - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade copper resource in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 2.26 Context: 0.35 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-49) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0a8d262941024683ee9b - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 350000 - Grade: 0.22 - Grade Unit: moz - Contained Metal: 0.22 - Contained Unit: moz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.22 Context: 0.35 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-50) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0a8d262941024683ee9b - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 350000 - Grade: 0.14 - Grade Unit: g/t - Contained Metal: 1.6 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.14 Context: 0.35 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-51) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3dbf709f270b8e106bfe - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 1.95 - Grade Unit: % - Contained Metal: 62.4 - Contained Unit: kt - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a copper resource in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Copper resource in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.95 Context: 3.20 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-52) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3dbf709f270b8e106bfe - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 1.24 - Grade Unit: moz - Contained Metal: 1.24 - Contained Unit: moz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Silver credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.24 Context: 3.20 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-53) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3dbf709f270b8e106bfe - Deposit or zone: Bellbird - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 10.4 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Gold credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.10 Context: 3.20 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-54) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f50bef9fa9bfce9c8ae3 - Deposit or zone: Rockface - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3940000 - Grade: 2.81 - Grade Unit: % - Contained Metal: 110.9 - Contained Unit: kt - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a high-grade copper resource in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: High-grade copper in Indicated category - Positive factor: Significant contained metal - Negative factor: Estimate is historical, reducing novelty Evidence · table > 2.81 Context: 3.94 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-55) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f50bef9fa9bfce9c8ae3 - Deposit or zone: Rockface - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3940000 - Grade: 3.1 - Grade Unit: moz - Contained Metal: 3.1 - Contained Unit: moz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Silver credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 3.10 Context: 3.94 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-56) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f50bef9fa9bfce9c8ae3 - Deposit or zone: Rockface - Mining method: combined - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3940000 - Grade: 0.26 - Grade Unit: g/t - Contained Metal: 32.71 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Indicated category, but it is a restatement of a prior estimate. - Positive factor: Gold credit in Indicated category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.26 Context: 3.94 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-57) Jervois Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: copper - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f52d2d1b833a87f0c562 - Deposit or zone: Rockface - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1320000 - Grade: 1.55 - Grade Unit: % - Contained Metal: 20.42 - Contained Unit: kt - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a copper resource in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Copper resource in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 1.55 Context: 1.32 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-58) Jervois Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: silver - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f52d2d1b833a87f0c562 - Deposit or zone: Rockface - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1320000 - Grade: 0.58 - Grade Unit: moz - Contained Metal: 0.58 - Contained Unit: moz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a silver credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Silver credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.58 Context: 1.32 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/kgl-annual-report-to-shareholders--c3e5a24d-d6a9-4494-beb4-1ca534096d7a#fact-resource-facts-59) Jervois Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Jervois Project - Commodity: gold - Region: australia\_nt - Reported Region: Northern Territory - Ticker: KGL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f52d2d1b833a87f0c562 - Deposit or zone: Rockface - Mining method: combined - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1320000 - Grade: 0.19 - Grade Unit: g/t - Contained Metal: 8.02 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-11-25 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-11-25T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a gold credit in the Inferred category, which has lower confidence, and is a restatement of a prior estimate. - Positive factor: Gold credit in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Estimate is historical, reducing novelty Evidence · table > 0.19 Context: 1.32 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.